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Richard Dent working with IRS to reduce $1.16
Richard Dent working with IRS to reduce $1.16M he owes
Dent: 'I have no problem in meeting my obligations'
By Fred Mitchell, Tribune reporter 8:39 p.m. CDT, April 27, 2011
Former Bears defensive end Richard Dent, who will be enshrined in the Pro Football Hall of Fame in August, told the Tribune on Wednesday that he is working with the Internal Revenue Service to reduce the reported $1.16 million the federal government contends he owes in delinquent taxes.
"I have no problem in meeting my obligations. I just think that we are definitely working through that number they have," said Dent. "Negotiations have been taking place within the last week. So I have no problem with this."
The IRS placed a $1,160,056 tax lien against Dent on March 8 in DeKalb County (Ga.) Superior Court, according to an article in the Detroit News Tax Watch Dog website.
"I have been working on this with (the IRS) for a little bit of time," said Dent, the Super Bowl XX MVP and the Bears' all-time leader in quarterback sacks. "I know the (taxes owed) number is nowhere near that, but it will be taken care of.
"Nobody can get a pass from the IRS. I'm not running from them. I think they will agree to a number that is nowhere near what they are speaking of."
fmitchell@tribune.com
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Not to be the forum nazi, but this isn't related to the CHICAGO BEARS...
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Abracadabra Alakazam
All threads listed have been moved to suit all desires!
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Originally Posted by
dabears54 
Richard Dent working with IRS to reduce $1.16M he owes Dent: 'I have no problem in meeting my obligations'
By Fred Mitchell, Tribune reporter 8:39 p.m. CDT, April 27, 2011
Former Bears defensive end Richard Dent, who will be enshrined in the Pro Football Hall of Fame in August, told the Tribune on Wednesday that he is working with the Internal Revenue Service to reduce the reported $1.16 million the federal government contends he owes in delinquent taxes.
"I have no problem in meeting my obligations. I just think that we are definitely working through that number they have," said Dent. "Negotiations have been taking place within the last week. So I have no problem with this."
The IRS placed a $1,160,056 tax lien against Dent on March 8 in DeKalb County (Ga.) Superior Court,
according to an article in the Detroit News Tax Watch Dog website.
"I have been working on this with (the IRS) for a little bit of time," said Dent, the Super Bowl XX MVP and the Bears' all-time leader in quarterback sacks. "I know the (taxes owed) number is nowhere near that, but it will be taken care of.
"Nobody can get a pass from the IRS. I'm not running from them. I think they will agree to a number that is nowhere near what they are speaking of."
fmitchell@tribune.com I don't know the genesis of his tax woes, but what he is likely doing is asking for an "offer in compromise". If it is granted to him, it will likely reduce the figure significantly. Most tax debt of this kind has the potential to be more penalties and interest than the underlying tax that wasn't paid.
Winston Churchill:
"Since light travels faster than sound, some people appear bright until you hear them speak."
"If you're not a liberal at twenty you have no heart, if you're not a conservative at forty you have no brain."
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Originally Posted by
BearStuff I don't know the genesis of his tax woes, but what he is likely doing is asking for an "offer in compromise". If it is granted to him, it will likely reduce the figure significantly. Most tax debt of this kind has the potential to be more penalties and interest than the underlying tax that wasn't paid.
yeah and probably 70% + is "penalties and interest" and maybe like many of these ex-stars that do alot of signings, he didn't fully declare all the income( not that an accountant would ever do that JD....lol) and you see alot of these the disputes, know he was on the "signing circuit" for a few years, and many ex-athlete's got caught in underdeclaring the amounts...
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Originally Posted by
Henry Burris Not to be the forum nazi, but this isn't related to the CHICAGO BEARS...
http://answers.yahoo.com/question/in...0221338AAvYGxS
``If a contest had 97 prizes, the 98th would be a trip to Green Bay.'' John McKay
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Originally Posted by
BearStuff I don't know the genesis of his tax woes, but what he is likely doing is asking for an "offer in compromise". If it is granted to him, it will likely reduce the figure significantly. Most tax debt of this kind has the potential to be more penalties and interest than the underlying tax that wasn't paid.
You beat me to it. I think that's exactly what's happening and it may well be settled for the amount of tax owed alone.
I'm getting to that age where a lifetime warranty just doesn't mean as much to me anymore as an afternoon nap. 
Honey Badger Don't Care. Honey Badger Don't Give a Shit.
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